Regulation of private health insurance markets: Lessons from enrollment, plan type choice, and adverse selection in Medicare Part D, ,
NBER Working Paper No. 15392 We study the Medicare Part D prescription drug insurance program as a bellwether for designs of private, non-mandatory health insurance markets that control adverse selection and assure adequate access and coverage. We model Part D enrollment and plan choice assuming a discrete dynamic decision process that maximizes life-cycle expected utility, and perform counterfactual policy simulations of the effect of market design on participation and plan viability. Our model correctly predicts high Part D enrollment rates among the currently healthy, but also strong adverse selection in choice of level of coverage. We analyze alternative designs that preserve plan variety. This paper is available as PDF (781 K) or via email
Machine-readable bibliographic record - MARC, RIS, BibTeX Document Object Identifier (DOI): 10.3386/w15392 Users who downloaded this paper also downloaded* these:
|
Contact Us
